You don't seem to have the whole picture.
It's not even mandatory for banks to use XRP for their transactions. I've written a few posts about Ripple and their XRP. I hope it will rise to even $1 but I doubt it ever will. Banks do not need to use XRP so why would they. Why would we as investors even buy XRP? Why would we even use XRP?
Another known fact is that Ripple have millions of XRP in escrow. Whenever XRP will become scarce on the market they will take some XRP out of escrow to make it less scarce. This will effectively lower the price of XRP again.
So do I think XRP will rise to $10 or even $1? No I do not see that happening. Is Ripple a legit company doing excellent work? Yes most definitely. But their XRP is another entity.
If you research Ripple you'll find that they have problems explaining XRP themselves. Take a look at all of their marketing material and I'll bet you'll find it even 5% of it speaks about XRP.
You have a valid point. I did not wanted to make the story to complex, but probably it would be better if I mentioned it so it would be more clear why I wrote what I wrote. You gave me a second chance to shed some extra light. Thanks. :)
I am aware that banks do not need to use XRP, but even if the banks do not need to use XRP, it is still needed for transactions to happen. I expect that the banks will prefer to use XRP because the transactions will cost them less when they do use XRP. So it is still in their interest to keep the price of XRP low. We see that the markets or the value of money is manipulated by the central banks. I expect nothing less from the banks when it comes to XRP. Beside the banks, as you also point out, Ripple itself will flood the market with XRP when it starts to get scarce. There is 100 billion XRP available in total. So they easily can. If I am misinformed about what I wrote you now, then you are completely right and I do not have the whole picture. :)
I made some edits in the text and put in XRP instead of Ripple and added that the banks do not need to use necessarily XRP to make my point better understandable. Thanks for your response. I appreciate it.